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February 23, 2018

South Africa
The State of President Ramaphosa’s Nation

The ascendancy of Cyril Ramaphosa to the presidency of South Africa has been greeted with a mix of enthusiasm, relief, and skepticism. It comes as South Africa prepares to celebrate the centenary of Nelson Mandela’s birth and it is worth remembering that Ramaphosa was Mandela’s first choice as his deputy.

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April 27, 2006

Unpleasant balance of payments math — why the interest rate matters for dark matter

Bill Cline of the IIE rightly took Nouriel and me to task (politely) for assuming that the average return on US FDI abroad would equal the average return on foreign FDI in the US in our 2004 paper on…

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